M&A Deal Summary

Corsair Capital, Federated Hermes Private Equity and BCI Acquire ZEDRA

On November 28, 2018, private equity firm Corsair Capital, asset manager Federated Hermes Private Equity and asset manager BCI acquired financial services company ZEDRA

Acquisition Highlights
  • This is Corsair Capital’s 9th, Federated Hermes Private Equity’s 1st and BCI’s 1st transaction in the Financial Services sector.
  • This is Corsair Capital’s 1st, Federated Hermes Private Equity’s 1st and BCI’s 1st transaction in Switzerland.

M&A Deal Summary

Date 2018-11-28
Target ZEDRA
Sector Financial Services
Buyer(s) Corsair Capital
Federated Hermes Private Equity
BCI
Deal Type Buyout (LBO, MBO, MBI)

Target

ZEDRA

Geneva, Switzerland
ZEDRA is an independent, global specialist in trust, corporate and fund services. ZEDRA was founded in 2016 and is based in Geneva, Switzerland.

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Buyer(S) 3

Buyer

Corsair Capital

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1992
PE ASSETS 9.9B USD
Size Mega
Type Sector Focused
DESCRIPTION

Corsair Capital is a private investment firm focused on investments in the financial services industry. Specific areas of interest include banks, insurance companies, credit card specialists, asset managers, private banks, mortgage lenders, financial technology firms, and finance companies. The Firm looks to invest between $50 to $100 million in companies with proven business models and 'meaningful' barriers to entry. Corsair will consider opportunities around the world, including the US, Europe, Latin America, and Asia. Prospective transactions include recapitalizations, growth capital financings, management buyouts, and special/distressed situations. Corsair Capital was originally established in 1992 and is based in New York City. Corsair has an additional office in London.


DEAL STATS #
Overall 20 of 29
Sector: Financial Services M&A 9 of 11
Type: Buyout (LBO, MBO, MBI) M&A Deals 8 of 11
Country: Switzerland M&A 1 of 1
Year: 2018 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-31 Jackson Hewitt Tax Service

Jersey City, New Jersey, United States

Jackson Hewitt Tax Service is a tax and accounting service that provides clients access to simple, low-cost solutions to manage their taxes and tax refunds. Jackson Hewitt Tax Service was formed in 1985 and is based in Jersey City, New Jersey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-22 Repay Holdings

Atlanta, Georgia, United States

Repay Holdings is a full-service provider of electronic transaction processing services for retail merchants, offering a comprehensive line of solutions that include credit and debit cards, gift cards, ACH, bank account verification, electronic bill payment, and instant funding. Repay Holdings was founded in 2006 and is based in Atlanta, Georgia.

Sell -
Buyer

Federated Hermes Private Equity


Category Asset Manager
Founded 2010
PE ASSETS 12.9B GBP
Size Mega
Type Sector Agnostic
DESCRIPTION

Federated Hermes Private Equity is a global investor in private equity funds as well as direct co-investor. The Firm manages assets on behalf of institutional investors with a focus on private markets. Federated Hermes Private Equity is headquartered in London.


DEAL STATS #
Overall 7 of 13
Sector: Financial Services M&A 1 of 1
Type: Buyout (LBO, MBO, MBI) M&A Deals 1 of 2
Country: Switzerland M&A 1 of 1
Year: 2018 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-06 Goiko Grill

Madrid, Spain

Goiko Grill is a full service casual gourmet-burger restaurant chain. Goiko Grill was founded in 2013 and is based in Madrid, Spain.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-04 sk:n

Coleshill, United Kingdom

sk:n is a provider of non-surgical cosmetic procedures with a nationwide chain of clinics offering a range of non-surgical skin and cosmetic treatments including laser-based treatments for hair removal and skin rejuvenation. sk:n has a professional and clinical approach that allows it to comply with the increasing regulation in the cosmetic treatment industry. sk:n was founded in 1990 and is based in Coleshill, United Kingdom.

Buy -
Buyer

BCI

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1999
PE ASSETS 21.1B CAD
Size Mega
Type Sector Agnostic
DESCRIPTION

British Columbia Investment Management Corp. (BCI) is large asset manager focused on providing investment management services to British Columbia’s public sector. The Firm looks to invest in a range of asset categories and will consider opportunities globally. BCI's private equity practice was established in 1995 and seeks leverage buyout and growth equity opportunities that include market leading companies with tangible downside protection. Portfolio companies have a sustainable competitive advantage, offer value-added products and services, and are led by talented management teams. British Columbia Investment Management Corp. is headquartered in Victoria, British Columbia.


DEAL STATS #
Overall 10 of 32
Sector: Financial Services M&A 1 of 1
Type: Buyout (LBO, MBO, MBI) M&A Deals 2 of 5
Country: Switzerland M&A 1 of 1
Year: 2018 M&A 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-24 Authority Brands

Columbia, Maryland, United States

Authority Brands is a parent company of two home service franchisors, The Cleaning Authority and Homewatch CareGivers. Together, these brands provide recurring home services through more than 300 franchise locations in the U.S., Canada, and Latin America. Authority Brands is based in Columbia, Maryland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-05 BMS Group

London, United Kingdom

BMS Group is an independent and employee-owned, specialist (re)insurance broking group which provides clients with local service and global solutions. BMS Group was founded in 1980 and is based in London, United Kingdom.

Buy -